Cornell University employees challenging their retirement plan’s service provider arrangements at the US Supreme Court received support from multiple groups and law professors backing their view of the Employee Retirement Income Security Act’s prohibited transaction rules.
Both AARP Foundation and the American Association for Justice urged the high court to shoot down the “heightened pleading standard” used to reject ERISA prohibited transaction claims centered on Cornell’s arrangements with retirement plan service providers. Such an “unattainable standard” is contrary to ERISA’s text and purpose, because it requires plaintiffs to plead information about fiduciary processes that they can’t be expected to know ...
AI-powered legal analytics, workflow tools and premium legal & business news.
Log in to keep reading or access research tools.
NEW DELHI: Food regulator FSSAI on Saturday said it has issued more than 150 notices to food companies, including major brands such as Nestle India, PepsiCo and Coca-Cola India, in recent months o...